DBT Bureau
Bengaluru, 29 January 2025
Odisha attracted investment proposals worth over Rs 4.5 lakh crore from both domestic and international investors on the Day-1 of ‘Utkarsh Odisha: Make-in-Odisha Conclave 2025’, which is the flagship investment summit of the state government.
The biggest investment proposal has come from Adani Group, which has announced to invest Rs 2.3 lakh crore in the state in various upcoming projects. JSW is another major investor, which plans to set up a 5 million tonne per annum (MTPA) steel plant in Keonjhar district with an investment of around Rs 35,000 crore. The conglomerate has signed an MoU with the state government in this regard.
Vedanta Group has signed an MoU to invest Rs 1 lakh crore for setting up a 6 MTPA aluminium refinery and 3 MTPA smelter plant along with an aluminium park in Rayagada district. Jindal Steel and Power (JSP), which has already a mega steel plant in the state, will invest Rs 70,000 crore for the expansion of its Angul steel plant.
Tata Steel has committed Rs 80,000 crore, which will be invested in petrochemical, IT, renewable energy, and semiconductor industries in the state. Avaada Group plans to invest Rs 20,000 crore at Gopalpur, while Birla Group has plans to set up a copper foil plant in Odisha.
Odisha’s Chief Minister Mohan Majhi said the state is poised to become a major industrial hub of the country as it is likely to receive investment proposals three times more than its earlier projections.
“It has been possible after Prime Minister Narendra Modi encouraged investors to capitalise on Odisha’s potential. The state had initially anticipated investments worth Rs 5 lakh crore, but the proposals received so far will exceed the target and the investment intents would be three-fold,” Majhi said.
‘Utkarsh Odisha: Make-in-Odisha Conclave 2025’ is currently underway in Bhubaneswar as the state under the BJP government is trying hard to attract investment into the state, which is more diversified than concentrated only on mines and mineral sectors.
